Pacific Premier Bancorp Inc $PPBI Shares Sold by Northern Trust Corp

Key Points

• Northern Trust Corp reduced its stake in Pacific Premier Bancorp by 2.8%, owning now 1,149,690 shares valued at approximately $24.5 million.
• Pacific Premier Bancorp reported a quarterly EPS of $0.39, exceeding the expected $0.34, along with revenue of $145.64 million against a forecast of $147.67 million.
• The company declared a quarterly dividend of $0.33, representing an annualized dividend yield of 5.4%, with a payout ratio of 92.96%.

Northern Trust Corp trimmed its position in Pacific Premier Bancorp Inc (NASDAQ:PPBI - Free Report) by 2.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,149,690 shares of the financial services provider's stock after selling 32,817 shares during the quarter. Northern Trust Corp owned approximately 1.18% of Pacific Premier Bancorp worth $24,511,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. First Trust Advisors LP increased its position in Pacific Premier Bancorp by 1.9% during the fourth quarter. First Trust Advisors LP now owns 95,397 shares of the financial services provider's stock worth $2,377,000 after acquiring an additional 1,761 shares during the period. Hsbc Holdings PLC raised its position in shares of Pacific Premier Bancorp by 211.6% in the 4th quarter. Hsbc Holdings PLC now owns 46,370 shares of the financial services provider's stock valued at $1,155,000 after acquiring an additional 31,490 shares during the period. Mercer Global Advisors Inc. ADV acquired a new stake in Pacific Premier Bancorp during the 4th quarter worth approximately $551,000. Algert Global LLC increased its holdings in Pacific Premier Bancorp by 22.5% during the fourth quarter. Algert Global LLC now owns 287,351 shares of the financial services provider's stock worth $7,161,000 after buying an additional 52,735 shares during the last quarter. Finally, Azora Capital LP increased its holdings in shares of Pacific Premier Bancorp by 54.4% in the fourth quarter. Azora Capital LP now owns 747,779 shares of the financial services provider's stock valued at $18,635,000 after purchasing an additional 263,383 shares during the last quarter. 93.11% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, General Counsel Steven R. Arnold sold 5,000 shares of the business's stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $22.54, for a total transaction of $112,700.00. Following the completion of the sale, the general counsel directly owned 51,042 shares of the company's stock, valued at approximately $1,150,486.68. The trade was a 8.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.29% of the stock is owned by insiders.

Pacific Premier Bancorp Price Performance

Pacific Premier Bancorp stock remained flat at $24.49 during mid-day trading on Friday. The company's 50 day moving average is $22.71 and its two-hundred day moving average is $21.80. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.86 and a current ratio of 0.86. The company has a market cap of $2.38 billion, a price-to-earnings ratio of 17.25 and a beta of 1.20. Pacific Premier Bancorp Inc has a 1-year low of $18.06 and a 1-year high of $30.28.

Pacific Premier Bancorp (NASDAQ:PPBI - Get Free Report) last released its quarterly earnings data on Thursday, July 24th. The financial services provider reported $0.39 EPS for the quarter, beating the consensus estimate of $0.34 by $0.05. The business had revenue of $145.64 million for the quarter, compared to the consensus estimate of $147.67 million. Pacific Premier Bancorp had a net margin of 16.13% and a return on equity of 4.85%. During the same period in the prior year, the firm earned $0.43 earnings per share. On average, analysts predict that Pacific Premier Bancorp Inc will post 1.34 earnings per share for the current fiscal year.

Pacific Premier Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Tuesday, August 5th were issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 5.4%. The ex-dividend date of this dividend was Tuesday, August 5th. Pacific Premier Bancorp's dividend payout ratio (DPR) is 92.96%.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen began coverage on shares of Pacific Premier Bancorp in a research report on Thursday, May 22nd. They set a "sell" rating for the company. Two equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Pacific Premier Bancorp has an average rating of "Hold" and a consensus price target of $27.50.

Pacific Premier Bancorp Company Profile

Pacific Premier Bancorp, Inc operates as the bank holding company for Pacific Premier Bank that provides various banking products and services in the United States. The company accepts deposit products, which includes checking, money market, savings accounts, and certificates of deposit. Its loan portfolio includes commercial real estate owner and non-owner-occupied, multifamily, construction and land, franchise real estate secured, and small business administration (SBA); revolving lines of credit, term loans, seasonal loans, and loans secured by liquid collateral; one-to-four family and home equity lines of credit loans; and small balance personal unsecured loans and savings account secured loans.